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Scanfil Announces Updated Values, Strategy, Business Segments and Financial Targets
March 13, 2024 | ScanfilEstimated reading time: 2 minutes
Scanfil plc announces its updated values, strategy, business segments and financial targets. “Geared for growth” describes Scanfil’s market position and opportunities.
“In 2023 we hit the all-time high turnover and profit. We have solid customer base with high growth potential especially in Energy & Cleantech and Medtech & Life Science,” says the CEO of Scanfil Christophe Sut. “We have a positive long-term outlook for the business, and we aim to drive our growth.”
Values drive us
Scanfil is strongly driven by its values which are based on entrepreneurial spirit laid by company’s founder Jorma Takanen in 1976. Our values are:
- Customer focused: In a competed EMS business you cannot succeed unless you are truly committed to customers.
- Achieving together: We work as a team. We success and also fail together. It makes us stronger.
- Empowered: Solution-oriented people and building a frame allowing people to take responsibility.
- Engaged to perform: Target orientation is at the heart of Scanfil.
Strategy and business segments to drive growth
We are “geared for growth”. Past three years we have pushed for organic growth. Now, we are shifting to seek balance between organic and inorganic growth. Ideally, potential acquisition targets would complement our customer base and factory network in Asia (outside of China), North America, and Eastern Central Europe.
We will also drive our organic growth and accelerate that by moving to three business segments:
- Industrial
- Energy & Cleantech
- Medtech & Life Science
Industrial was formed by combining the previous three segments: Advance Consumer Applications, Automation & Safety and Communications. Each new segment has dedicated sales teams to driving growth and profitability.
“Segmentations clarify roles and further enhance sales growth for all business segments. To drive factory specific sales, we still have local sales people”, explains CEO Christophe Sut. “We can drive our sales more efficiently by re-organizing it and also incentivizing it through specific customer groups.”
Sustainability is at the heart of the company
We are driving our sustainability and committed to the Science Based Targets in the short-term 2030 and long-term “Net Zero” 2050. In addition, we are preparing for the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) with full speed.
Updated financial targets depict the potential of these changes
All these changes together with our efficiency driving Dream Factory program, supply chain optimization and offering development we are aiming for:
- 10% turnover growth on average per annum over the business cycle
- 7-8% operating profit margin
- <1.5 Net debt/EBITDA
The dividend policy remains unchanged and Scanfil aims to distribute approximately 1/3 of the net profit depending on the investment needs.
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